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Amgen To Buy Mustafa Nevzat For $700 Million

Biotechnology firm Amgen (AMGN) will buy a 95.6% stake in Mustafa Nevzat Pharmaceuticals for $700 million, in a move to expand its presence in Turkey and the surrounding region. The all-cash transaction has been approved by both the boards, the two companies said in a joint statement Wednesday. MN, which supplies pharmaceuticals to the hospital sector and is a major supplier of injectable medicines in Turkey, had revenue of approximately $200 million in 2011, the statement said. Amgen's focus on Turkey and the surrounding region, which are large, fast-growing, priority markets for Amgen, is a part of its international expansion strategy. Amgen established an affiliate in Turkey in 2010 and currently markets two products, with plans to develop its pipeline of clinical candidates for Turkey and other markets around the world. Order free Annual Report for Amgen, Inc. Visit http://djnewswires.ar.wilink.com/?link=AMGN or call 1-888-301-0513

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
05/29/201510:10:19Amgen, Merck Expand Collaboration
05/29/201509:59:06Amgen, Merck Expand Collaboration to Head, Neck Cancer
05/29/201508:30:00Amgen And Merck Announce Expansion Of Collaboration To Support...
05/29/201506:45:00Amgen Presents Pooled Phase 3 AMG 416 Data For The Treatment...
05/28/201516:00:00Amgen Launches Program To Further Advance Basic Biology Research
05/27/201516:30:00Amgen To Present At The Jefferies 2015 Global Healthcare Conference
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05/26/201516:14:00Pivotal Study Results Published in Journal of Clinical Oncology...
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